Tullow Oil (LON:TLW) Trading 10.4% Higher - What's Next?

Key Points

• Tullow Oil's shares rose by 10.4%, trading at GBX 9.16 ($0.12), with a trading volume increase of 36% compared to average session volume.
• Analysts have mixed ratings for Tullow Oil, with target prices ranging from GBX 6 to GBX 16, resulting in a consensus rating of "Hold" and an average target price of GBX 15.33.
• Insider Roald Goethe bought 2 million shares at an average cost of GBX 12 per share, indicating potential confidence in the company's future performance.

Tullow Oil plc (LON:TLW - Get Free Report)'s share price traded up 10.4% on Wednesday . The company traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). 10,988,710 shares were traded during trading, an increase of 36% from the average session volume of 8,073,210 shares. The stock had previously closed at GBX 8.30 ($0.11).

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Canaccord Genuity Group cut their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a research report on Thursday, August 7th. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Jefferies Financial Group cut their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of GBX 15.33.

Tullow Oil Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The stock has a market cap of £134.20 million, a price-to-earnings ratio of -0.65, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company's 50-day moving average is GBX 10.58 and its 200-day moving average is GBX 13.32.

Insider Transactions at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is owned by company insiders.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company's operations are focused on its West-African producing assets in Ghana, Gabon and Côte d'Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.

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